Patriot Maintains Exploration & Development Momentum at Corvette with Extensive Summer-Fall Workplan
Press Release
June 26, 2024
Highlights
- 2024 Summer-Fall exploration program commences at Corvette:
- Two exploration rigs operating at the CV13 Pegmatite, primarily undertaking step-out drilling targeting extensions of the recently discovered high-grade Vega Zone.
- Two drill rigs collecting geotechnical and hydrogeological information to support advanced development and economic studies through feasibility.
- Surface exploration activities underway, including detailed mapping at CV5 and CV13, channel sampling, and prospecting of prospective trends.
- Additional rigs to be added starting in early July, focused on continued infill and geomechanical drilling at the CV5 Pegmatite.
- Successful commissioning of a 100%-owned exploration camp proximal to the Property and all-season road access from the camp to the CV5 Pegmatite, reducing travel time and significantly increasing exploration efficiency and cost effectiveness.
- Building on the successful relationship with the Cree, the new camp facilities have adopted the name Shaakichiuwaanaan Camp.
- Environmental baseline data collection is being undertaken in partnership with First Nations, representing a key milestone in progressing the Environmental and Social Impact Assessment (ESIA), due for submission in September 2025.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to provide an update on the 2024 Summer-Fall exploration and development programs at its 100%-owned Corvette Property (the “Property” or “Project”) located in the Eeyou Istchee James Bay region of Quebec. The Project, which hosts the CV5 Spodumene Pegmatite with a maiden Mineral Resource Estimate (“MRE”) of 109.2 Mt at 1.42% Li2O Inferred1, is situated approximately 13.5 km south of the regional and all‑weather Trans-Taiga Road and powerline infrastructure.
This multi-pronged and multi drill rig field work program has been designed to support the continued exploration and development of the Corvette Project. Work is anticipated to include step-out drilling at the recently discovered Vega Zone at the CV13 Pegmatite, infill drilling at the CV5 Pegmatite, as well as surface mapping and prospecting.
Additionally, significant environmental baseline data collection will continue to build on previous years in support of an Environmental and Social Impact Assessment (ESIA) submission for the Project, which is on schedule for September 2025
Summer-Fall Exploration Program Underway
CV13 Pegmatite (Vega Zone)
The 2024 Summer-Fall exploration program has commenced with two drill rigs now testing the recently discovered Vega Zone at the CV13 Pegmatite (see news release dated June 10, 2024). The objective of the program is to further expand and delineate the recently discovered high-grade mineralization at Vega. Approximately 10,000 m of drilling is under consideration this summer-fall targetting the CV13 Spodumene Pegmatite and immediate corridor towards the CV5 Spodumene Pegmatite.
Because the Vega Zone was discovered in the final days of the 2024 winter program, only limited follow-up drilling has been completed. Results to date include 34.4 m at 2.90% Li2O (CV24-470), and 33.4 m at 2.40% Li2O, including 1.7 m at 7.01% Li2O (CV24-507). The high-grade mineralization is relatively flat-lying to shallow dipping and remains open in multiple directions, with the results of multiple step-out holes remaining to be reported.
CV5 Pegmatite
Infill drilling at the CV5 Pegmatite is scheduled to resume in early July and will continue through late September. Several drill rigs will be deployed to support an increase in MRE confidence from the Inferred category to the Indicated category. This drilling will target Inferred blocks as categorized in the pending MRE update, with the ultimate objective of delineating a coherent body of Indicated Mineral Resource blocks to underpin a Feasibility Study scheduled for the second half of 2025.
The Company anticipates adding an additional rig in August to undertake geomechanical drilling at CV5 to support advanced open-pit design. These drill holes will be completed at various orientations proximal to CV5 and the conceptual pit, and will target specific host rock types and structure, with optical and acoustics televiewer data to also be collected.
Additionally, several fences of drilling are planned across the conceptual open-pit to test for mineralized pegmatite where waste rock has been modelled due to a lack of drill data.
In addition to the resource drilling, an expansive hydrogeological and geotechnical drill program commenced on site in early June. The program includes approximately 56 drill holes of various size (NQ, HQ, PQ, and 6 inch), design, and depth.
The geotechnical drilling will test rock and overburden characteristics at various proposed infrastructure locations to support the development of the Project. This includes areas for the proposed mine camp, waste rock piles, process plant, and other ancillary infrastructure.
The hydrogeological drill program will include the installation of monitoring wells and down-hole equipment, as well as packer testing (Figure 1) within the conceptual open-pit and other proposed infrastructure locations. Additionally, three large diameter drill holes will be completed (two 6 inch and one PQ) in the CV5 area to conduct long-duration pumping tests for operational water supply and pit dewatering design. The data will further refine the preliminary hydrogeological model for CV5 developed in 2023.
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